British Media coined “Peking Pound” for Extravagant Chinese Purchases and High stakes Gambling Abroad

| January 2nd, 2011

(IFENG)

The big bucks Chinese spend overseas every year reaches staggering numbers. Last year reportedly 56% of Chinese purchases of luxury goods occur abroad, totaling 13,000 million USD. British Media coined a new word—“Peking Pound” for Chinese huge purchasing power. The casinos overseas, also add Chinese in their VIP lists.

British “Peking Pound” splurged £1bn in sales of luxury goods

According to the British Daily Mail reported on 28th December, 2010, wealthy Chinese tourists are expected to spend a billion pounds on luxury […]Read more…

China Reduced 4.4 Billion Dollars of U.S. Treasury Bonds in April

| June 15th, 2009

From NetEase:

China Securities News reported on June 16: China continuously holding of U.S. treasuries has finally stopped. Reporter was informed from United States Ministry of Finance website as of the end of April this year China’s holding of U.S. Treasury bonds was 763.5 billion U.S. dollars which is lower than end of March of 767.9 billion dollars. This means that China reduced about 4.4 billion dollars of U.S. Treasury bonds in April.

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